Forex Trading on News Releases

March 22, 2021

If you are interested in forex trading, then it is important to know how volatile the market is at any given moment and how fast it moves and changes directions. This is why it is crucial to stay updated with the events in the forex market news. As a trader, you must acquaint yourself with main event risks that may affect the prices of the major currencies.

Now, you may wonder, what kind of news you should look forward to. Remember that the importance of news lies in how able it is in increasing short-term volatility. So, generally, you need to pay attention to news that has high market-moving potential. The news that has the potential to drive price action and produce volatility usually involves shifts in government policy, changes in central bank policy, unexpected results in economic data releases, tweets from a world leader, etc. By being aware of forthcoming major event risks, you can avoid being on the wrong side of the market.

What Should You Look For And Where?

There are websites that highlight significant occasions, market news, and pecuniary data that are being released by countries all over the world. News involving the most popularly dealt with currencies is always vital. However, the number of events scheduled can go over a hundred on any given week and it can be difficult to find out the important ones from them. The solution here is the economic calendar released by various websites that can help you in identifying the relative importance of each specific event.

You can also filter news and event listing on an economic calendar to make news browsing easy. By spending some time exploring it, you will notice that the most crucial events typically relate to ups and downs in interest rates, price increases, and economic growth, like producing, merchandising, and consumer sentiment. Some crucial events are interest rate decisions by central banks, inflation, employment data, economic growth, retail sales, industrial production, business sentiment surveys, manufacturing sector surveys, consumer confidence surveys, housing data, and trade balance. Similar data may have different names in different countries but that is pointed out in the economic calendar.

Based on what is trending around the world, the relative importance of event changes. For example, interest rate decisions may be the main focus at a specific time, while it may seem irrelevant during a different time and nobody may care. This is why it is important for you to be updated and informed to know which event is in focus at this moment.

Pay Special Attention to News From The U.S.

Although the markets are affected by most economic news from several countries, the biggest news comes from the U.S. and you must pay attention to it. The U.S. is still considered the most powerful country in the world, whether it is in the domain of industry, geopolitics, science, energy, technology, military affairs, and culture. Even if the position of the US dollar has been eroded by setbacks and imbalances, its strength and influence are still unmatched. Thus, the U.S. still has the biggest economy in the world and the USD is the reserve currency of the world. As a result, the USD takes part in almost 90% of all forex transactions, and it makes the U.S. news and data important.

Selecting Currency Pairs To Trade The News

After monitoring an event, you would want to trade the currency that is associated with that particular event’s economy. Selecting the right currency pair is a vital decision when it comes to trading. As a trader, your job is to take advantage of the short-term spike in volatility while keeping your transaction costs as low as possible. Since news can increase the volatility in the forex market, it is important to trade currencies that are highly liquid.

Currencies with high liquidity have the tightest spreads which is the main reason you can keep your transaction costs low. Liquid currency pairs also assure that your orders would be executed smoothly without trouble. Usually, major pairs have the most liquidity, hence the tightest spreads.

Now that you know how to look for important news and how to use it for trading, you may start your career.

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I Want to Grow My Business in Hong Kong: What Do I do To Succeed?

March 22, 2021

Growing a business into a global behemoth is every investor’s dream, but the path is always challenging. If you look at the top companies on the globe today, most of them grew after moving offshore. One of the leading offshore investment jurisdictions is Hong Kong because of its supportive administration. Keep reading to learn about the main tips for business success after company registration in Hong Kong.

Why Hong Kong?

The Hong Kong startup and FinTech ecosystem has won praise globally because of its support for businesses to succeed. The ecosystem has become an important prong by the Hong Kong administration to support its business-based economy. This is why you should not be left behind in expanding your business to Hong Kong. Some of the major benefits to expect for taking your business to Hong Kong include:

Hong Kong has a very straightforward tax regime.
The island is strategically located in the heart of Asia. This makes it an awesome place for businesses targeting to grow rapidly into the Asian market.
Well-developed infrastructure.
An educated workforce.
Registering a company is pretty easy.

Special Tips for Growing Your Hong Kong Business

One thing you need to appreciate about the Hong Kong market is that it is very competitive. Therefore, it is crucial to have a good operating strategy to outdo competitors and grow your enterprise rapidly. Here are some tested and proven tips to consider for business growth.

Develop a Good Business Trading Strategy

The business strategy you adopt determines whether the enterprise will become successful or not. Note that the strategy you select depends on the nature of the business, targeted audience, and product. Do not just assume that a strategy that worked for a different firm will automatically work in your situation.

One common strategy used by businesses in Hong Kong is leveraging social media to achieve fast growth. This method works well because a lot of people in Hong Kong are already on social media, and you can easily reach them. Through different social media platforms, you can tell the targeted clients about your products, build leads, and create a strong community. Finally, you can convert these leads and traffic into your customers.

Look for A Way to Stay Ahead of the Competition

When you open a business in Hong Kong, the truth is that other firms in the same industry are likely to have already entered the market. This brings us to the main question, “How do you outdo the competition?” The best method is studying what competitors do, their products, targeted clients, and strategies. Then, develop better strategies to beat them in the market. Particularly, you should target outdoing them in product development and marketing strategies to win a bigger market share.

Make Continuous Improvement a Part of Your Strategy

Registering a company in Hong Kong and commencing operations only marks the first stages of running the enterprise on the island. The next steps will be very crucial in defining how successful the venture will be. To be sure of success, you should make continuous improvement part of your business strategy. This means that even when the company’s performance is good, you will always be looking for better methods of improving the product quality and growing sales.

When you register a company in Hong Kong, the tips we have highlighted in this post can come in handy to help you grow it to the next level. In addition to using the listed strategies, consider bringing on board an agency of experts to help you comply and enrich your strategies.

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4 Dividend Stocks to Buy in 2021

March 22, 2021

One of the best ways to create and amass wealth is through investing in the stock market. With a potential increase in the profits of the company, shareholders are guaranteed increased dividends.

Finding the best dividend stocks in the market to invest in is very important because not all dividend stocks turn out to be good investments.

A dividend refers to the share of a company’s profits among its shareholders. Many of the most traded companies in the world also happen to be big corporations. This is because it’s easier to predict their profitability than small companies.

However, this doesn’t entirely mean that investing in small companies isn’t worth it because there are many small companies with high dividends for their stockholders.

The following are some of the top dividend-stocks to buy in 2021;

1. Crescent Capital BDC, Inc

With its primary objective being to maximize its stockholder’s total earnings, you know the company will be a safe investment. In February this year, the company reported a net investment of $49.9 million which is equivalent to $1.80 per share.

Crescent Capital, through its management, also announced that its Board of Directors will be getting dividends in the first quarter of 2021 worth $0.41 per share, which will be paid on April 15, 2021. This will be after the close of business on March 31, 2021.

2. AT&T Inc

AT&T has been registering increased dividends for decades now. As of 2021, the company has a dividend yield of 7.2%, which doesn’t appear to slow down in any near future. Although this company has had its fair share of rough patches, it seems to have bounced back in a major way.

The company’s wireless sector that accounts for over 42% of its total revenue, has also paid off even during the pandemic.

3. Blackstone Group Inc

Not only is the company a steady gainer, but also it has increased dividends. The company has maintained a consistent growth rate. This year has even been better, registering a 34% increase, and it’s predicted to grow an average of 15% in the next five years.

According to the experts at money morning, Blackstone’s policy is to pay out about 85% of its distributable earnings every quarter. This means you’re guaranteed higher yields whenever the company moves up.

4. Exxon Mobil Corp

Although oil prices fell flat earlier during the pandemic, you shouldn’t rule out investing in Exxon Mobil Corp. with a steady increase in energy prices across the globe now; the company has been one of the biggest gainers.

It registers a 6.4% yield in dividends which is very generous, and with the various tech plans the company has put in place, it seems the only way to move for the company is up.

Conclusion

If you want to make a worthwhile investment in the X dividend-stocks, you must do your research about a company’s performance and trajectory. This will help you decide on which company suits your investment goals, whether short-term or long-term.

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Comparing Link Building Tactics: How Much Effort Should Your Team Exert?

March 22, 2021

There are many well-established marketing strategies that remain effective in 2021. But when it comes to inbound traffic and organic conversion, Google ranking is considered essential. Unlike paid advertisements, organic clicks lead to more sales. And by gaining organic traffic, the effect is long-lasting hence the investment has more value over time.

But, publishing high-quality content isn’t sufficient. A majority of webpages don’t get a high enough ranking to attract visitors. So, how do you ensure that your pages rank on Google? What you need to do is increase authority through link building. There are many effective tactics for link building available today. And if you don’t want to waste resources, here’s a comparison of these methods based on how much effort you need to put in.

Link building that requires low or little effort

Low effort means you don’t need to use as many resources. These tactics are easier to target. But, if you seek the assistance of a link building agency like www.ocere.com, these tactics are preliminary to finding tactics with greater reward. Since it doesn’t take much to earn the links using these methods, you get to move on to something that requires more work but will lead to higher success. Some examples of low-effort tactics include submitting directory listings, searching for brand mentions without links, and reclaiming broken links.

Link building that requires low effort but with a higher reward

Only one tactic falls in this category and that’s internal linking. This strategy is also low risk but can guarantee a significant positive impact on ranking. What this tactic pertains to is adding links that point to other pages within the same domain. Instead of spending time for outreach, you can strategically place links within the website and distribute them equally.

Link building that requires some effort

These tactics are short-term and are great in making sure you develop a holistic approach to link building. These need to be done the right way, as there may be consequences involved. Although you will benefit from these tactics, there won’t be any significant advantage against the competition. Specific examples include guest posting, link swapping, and resource link building.

High effort link building tactics with high reward

Some link building tactics will take time and effort, but the rewards will be worth it. These tactics use relevant and authentic content to get links from prestigious sources. The links resulting from this method are natural and have a long-lasting positive impact on Google rankings. These tactics also require advanced skills in marketing, which is why it’s more suitably used when you have an expert SEO team. In the long run, the links produced by tactics such as digital PR, press mentions, and skyscraper content will give your website a competitive advantage.

In conclusion, link building is a critical aspect of SEO. This year and in the years to come, it will remain one of the factors that will impact digital marketing. Indeed, it requires work, and no strategy is ever guaranteed to bring expected results. But, if you’re committed to doing it the right way, you will reap long-term rewards.

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In the Eye of Southeast Asia’s COVID-19 Surge

March 22, 2021

By Dr. Dan Steinbock

Only countries that have won the battle against COVID-19 can fully reopen the economy. Others face difficult balancing acts. Southeast Asia is no exception.

I am writing this column in Pasay City, at the eye of Southeast Asia’s new pandemic surge. In late February, Pasay, a major destination hub of Metro Manila, reported the highest number of Covid-cases and second highest in the Philippines. Today, the city’s General Hospital is nearing full-bed capacity.

Pasay City is no longer alone. Today, the case numbers are still higher in other cities. The Philippines has hit its highest single-day increase one day after another and by March 20 the number of recorded daily COVID-19 cases surpassed 8,000.

As new variants and new spikes are spreading from Europe, United States and Brazil into lower-middle and low-income economies, emerging Southeast Asia is among the first world regions facing the new surge.

Considering China’s lessons in pandemic containment, reopening of the economy becomes viable only when COVID-19 is contained. Only a few countries in Southeast Asia fulfill the essential requirements for the full reopening.

Spikes, variants in Southeast Asia

In Southeast Asia, the effectiveness of the pandemic containment can be measured by daily new confirmed infection cases per million people. In that view, the cases first soared in Singapore, which has been able to reduce the numbers dramatically. Excluding the high-income city state, the status quo is very different in emerging Southeast Asia (Figure 1).

Figure 1: Daily new confirmed COVID-19 cases per million people

Source: Johns Hopkins (7-day rolling average), DifferenceGroup (March 19, 2021)

From March to late fall 2020, Philippines had more per capita cases than the rest of the region. In the past four months or so, Malaysia has dominated the numbers. That changed after the first week of March, when cases in the Philippines surged across those in Indonesia and by mid-month across those in Malaysia.

The rest of Southeast Asia – including Thailand, Myanmar, and Vietnam – has experienced surges as well. But on per capita basis, none of them match those of the big three: Philippines, Malaysia and Indonesia.

In addition to increased complacency and uneven enforcement, record case numbers in emerging Southeast Asia have been fueled by local transmissions and returning overseas workers and, most recently, by the new, more transmissible and harmful variants – as I projected first in late spring and again in late summer 2020.

Belated vaccination drives

The vaccination drives are picking up pace in the advanced economies, in part at the expense of the poorer countries. As some major economies have been hoarding vaccines, they have boosted excessive price levels and delayed deliveries elsewhere in the world.

Measured by COVID-19 vaccine doses per 100 people, the high-income Singapore is obviously in a class of its own with almost 14 doses daily per 100 persons. Excluding Singapore, the drives have started at varying pace across in Southeast Asia (Figure 2).

Figure 2: COVID-19 vaccine doses administered per 100 people

In the current status quo Indonesia is well ahead Malaysia and Cambodia, followed by Laos and Myanmar (until its ongoing turmoil). The four are tailed by the Philippines, Thailand and Vietnam. But unlike Thailand and Vietnam, the Philippines has a very high number of cases.

Restricted mobility slows recovery

Targeted restrictions and lockdowns hold back recovery in Southeast Asia, especially in economies where caseloads remain high. A key role in these recoveries belongs to mobility. Restrictions seek to reduce interactions among people; mobility fosters those interactions. That’s why mobility is critical to the reopening of the economy, and why it also worsens pandemic risks.

Through the emerging Southeast Asia, all governments face a challenging balancing act. How to navigate between a premature reopening of the economy and excessive case numbers? The decisions will be most challenging in those countries that have suffered steepest contractions and highest case numbers.

In terms of mobility, the Philippines, like much of Southeast Asia, took a severe hit in early 2020. As most people had to stay at home, the residential dimension surged to more than +30 percent. All critical mobility dimensions – groceries and pharmacies, parks and workplaces, retail and recreation, and particularly transit stations – suffered a decline of -50 to over -80 percent, each (Figure).

Figure 3: Change in visitors by category

Source: Google Mobility Trends, DifferenceGroup (March 16, 2021)

After the hard quarantine periods, all dimensions were recovering until Christmas holidays. Thereafter progress was halted. Currently, only groceries and pharmacies are operating close to the pre-pandemic normal. Parks and workplaces are about 20 to 25% below normal, and retail nearly 35% under capacity. Transit stations remain over 45% down.

Shrinking policy space, national unity vital

In late 2020, emerging Southeast Asia returned to its expansionary terrain. While policymakers must focus on reducing the short-term economic fallout, the pandemic will have long-lasting effects.

Those economies that are most reliant on tourism will suffer longer scarring than their peers. China’s early recovery will benefit countries that are broadening trade, investment and exchange ties with the mainland. Trade-dependent countries must cope with US-Sino tensions and Washington’s continued protectionism.

Interest rates have been reduced across Southeast Asia. In some they are already low (Thailand). In others, there is still policy room (Philippines). In still others, they remain relatively high (Indonesia, Vietnam). Rate hikes are not likely in 2021, as fiscal authorities and central bankers must ensure accommodative conditions.

In the past year, public debt levels have understandably climbed fast, yet remain 40% to 60% of GDP in Malaysia, Philippines, Thailand, and Indonesia. It will take another 1-2 years until fiscal measures are rolled back.

External vulnerability, measured by reserves to gross external financing, is higher in Indonesia and Malaysia, which need additional buffers against volatility, but relatively lower in Philippines and Thailand.

In domestic politics, the pandemic crisis is testing all economies worldwide, including emerging Southeast Asia. In Thailand, longstanding polarization continues to simmer. In Myanmar, it has resulted in violent conflict. In Vietnam, friction is subdued officially. In Malaysia and Indonesia, political divides have intensified. In the Philippines, the 2016 meltdown of the Liberal Party has led some of its former leaders to questionable efforts to use the crisis to position for the 2022 election.

The human and economic costs of the pandemic crisis are far too high exploit in politics. As the past months have shown, those countries that can pull together in a time of crisis will recover faster, whereas those where political games predominate won’t. Southeast Asia will be no exception.

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About the Author

Dr. Dan Steinbock is an internationally recognized strategist of the multipolar world and the founder of Difference Group. He has served at the India, China and America Institute (USA), Shanghai Institutes for International Studies (China) and the EU Center (Singapore). For more, see https://www.differencegroup.net

From Taylor Swift to BTS: Grammys 2021 Was a Much-needed Spectacle of Artistic Glory

March 22, 2021

The 2021 Grammy Awards held last March 14 was, by all means, unconventionally spectacular on all accounts. From showcasing household names like Taylor Swift to nudging a step in the direction for more inclusion through BTS, it was an awards night uniquely like no other.

Grammy Awards 2021, taking inspiration from its predecessor year, was entirely different in every possible way you could imagine. The almost four-hour award show was hosted by CBS, where its socially-distanced music stars sat in a huge marque outside the LA Convention Center, following the pandemic restrictions for event gatherings.

This isn’t to say this hindered the overall glamour surrounding this prestigious body of musical recognition, as much of the night’s success can be attributed to executive producer, Ben Winston, who made his Grammys debut amidst all odds from the show even being greenlighted this year.

The six-week delay from its proposed airtime gave the world-class producer enough time to make the necessary changes and coordinate with various teams on how to best give viewers at home a mimicry of a live concert show, one most people have been longing to attend since the start of lockdown.

“I know that you haven’t been able to go to a concert in a long time,” said host Trevor Noah, also ‘The Daily Host’ regular. “So tonight we’re bringing the concert to you.”

Winston achieved this effect splendidly; his telecast moved breezily across multiple stages, stuck to the script and didn’t fill in odd silences with awkward fillers, but most importantly, he highlighted a huge and diverse array of music that allowed the various attending artists to showcase their talents at their peak condition.

In the previous Grammys, it was almost expected and normalized for any show to have its inevitable highs and embarrassing lows, as is with any high-profile event. But the performances from last Sunday night, from headliner Harry Styles in his suave rendition of ‘Watermelon Sugar’ to up-and-coming Bilie Eilish’s heart-wrenching ‘Everything I Wanted’; each set was efficiently and elegantly managed to present these singers artisty in their utmost prime.

In the previous Grammys, it was almost expected and normalized for any show to have its inevitable highs and embarrassing lows, as is with any high-profile event.

Many long-time enthusiasts of the Grammys expected the night to be another coronation sweep for mega-artist Taylor Swift, whose pandemic-fuelled album ‘Folklore’ earned her six Grammy nominations alone and some of her most career-changing reviews. But, to their half-surprise, she ended up taking 0 to 5; only having been reinstated towards the ends as she went on to take ‘Album of the Year’, placing her in history as one of the four people who took home 3 AotY awards.

This has put her name with the likes of triple Album of the Year winners Frank Sinatra, Stevie Wonder, and Paul Simon in achieving this feat. Swift previously won the award in 2010 with pop album ‘Fearless’, then later on in 2016 with her memoir-inspired coming-of-age album ‘1989’.

Eilish, who famously dominated last year’s awards, hadn’t made much of a splash during the rest of the evening either. Despite dominating the 2020 Grammys with an all-kill at only 18, when she swept all four general field categories, making her the first female and youngest artist to do so and the youngest solo act to win the prestigious Album of the Year award. This year she had won only best song written for visual media, for pop-funk “No Time to Die.” Record of the year also went to Eilish, who spent much of her speech apologizing to Megan Thee Stallion for winning.

Perhaps one of the most disappointing feats of the night was the snubbery of South Korean boy group, BTS, when they lost the award for best pop duo/group performance to Lady Gaga and Ariana Grande’s collaboration ‘Rain on Me’. Their fans took to Twitter to call out the awarding body of their blatant dismissal of non-Western acts and people of color in general, trending #SCAMMYs worldwide to drive their point further.

The 7-member group still made history by delivering one of their best performances yet, in a high-energy, sharply-produced performance of their hit mixed-language song ‘Dynamite’. This was the group’s third appearance in the prestigious awards show, first in 2017 then 2020. This historic appearance also marks the first time a South Korean act performed one of their original songs at a Grammys show.

The slow acceptance of a predominantly Western awarding body to non-Western acts is a step in the right direction for the much-needed change towards more inclusion. Even as pop culture sensation BTS went home empty handed, their unrivalled status as official Grammy performers and nominees is a nudge towards a more welcoming Grammys stage in the future; one that is truly global and interconnected for acts of all origins.

There were over a dozen performances at the Grammys on Sunday night, the viewers also got to see the vivacious duo of Cardi B and Megan Thee Stallion, as well as a politically resonant song from Lil Baby and Killer Mike.

The 2021 Grammys Awards was a showcase of talent like no other. The careful stage management, exemplary sound mixes, and the perfect blend of live and pre-taped moments, the constant set changes to accommodate different artists; everything was set up in order to give both the attendees and viewers a much-needed spectacle to distract them from the woes of daily isolation.

The 3 and a half hour music-industry infomercial was a night filled with appreciation for the craft that is music, songwriting, lullabies, melodies, and everything else in between. This gave the musicians the much-needed release for their musical output that has been kept hidden for over a year, as well as feed the home audience live music they have been starved off for just as long.

With careful steps not to turn it into a telethon or a staggering broadcast, nearly 9 million people tuned in to the 2021 Grammys with a contented heart. The show did a spectacular job of putting a spotlight on the many music and entertainment venues whose lifelines have been threatened by the pandemic.

Here is to looking forward to next year’s no doubt majestic one!

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About the Author

Pamela Rhyan is a writer for The World Financial Review. She crafts timely blog pieces about trending business acumen, changing leadership dynamics, emerging finance and technology trends, and how these spaces intersect from a millennial’s perspective. She also works as an editor and content strategist to the sister publications of The World Financial Review.

Data Transfers After Brexit

March 20, 2021

By James Castro-Edwards

The departure of the United Kingdom from the EU at end of the transition period on 1^st January 2021 has resulted in changes to data protection rules. These changes will affect businesses that share personal information about their customers, staff and suppliers between the UK and Europe. In the short term at least, data transfers can continue as before thanks to a ‘bridging mechanism’ agreed in December, however this is not a permanent solution. Further, while data protection law in the UK and the EU is currently aligned, it may diverge in the future. Businesses that share personal data between the United Kingdom and Europe must keep an eye on the potential changes, so that they can prepare.

Data Transfers

The General Data Protection Regulation (GDPR) prohibits the transfer of personal data from countries in the European Economic Area (EEA) to ‘third countries’ that do not ensure an adequate level of protection. The EEA consists of the EU Member States, plus Norway, Iceland and Liechtenstein. The UK became a ‘third country’ on the first of January this year, when the transition period ended. Under the GDPR’s data transfer provisions, organisations in the EEA would ordinarily be prevented from sharing personal data with their UK counterparts unless they have implemented appropriate safeguards. Prior to the end of the transition period, there was widespread concern that a ‘no deal’ Brexit could restrict the sharing of personal data between Europe and the United Kingdom. Clearly, this would be problematic for business.

The EU and the United Kingdom concluded a Trade and Cooperation Agreement on 24^th December 2020, thereby averting the problem in the short term, at least. Among other things, the Agreement provides a bridging mechanism which enables the continued flow of personal data from the EEA to the UK for up to six months (until June 2021). The bridging mechanism is intended as an interim measure to allow time for the European Commission to finalise its adequacy assessment of the UK. An adequacy finding by the Commission would enable personal data to be freely transferred between the UK and the EU Member States.

It is not a forgone conclusion that the Commission will make such an adequacy finding in favour of the UK. One significant obstacle is the controversial Investigatory Powers Act 2016, aka the ‘Snoopers’ Charter’. A criticism of the Act is that it confers excessive powers on the government to carry out indiscriminate surveillance. Excessive government surveillance powers were essentially what lead the European Court of Justice (CJEU) to declare the EU-US Privacy Shield to be invalid. Accordingly, the UK not being granted an adequacy decision is a genuine possibility. There is also an important proviso regarding the bridging mechanism; if the UK amends its domestic data protection laws without the agreement of the EU, the bridging mechanism will be terminated. In the absence of an adequacy finding by June 2021, or if the UK amends the UK GDPR, thereby terminating the bridging mechanism early, businesses would need to rely on an alternative data transfer solution.

The Standard Contractual Clauses

For most organisations that transfer personal data out of the EEA, the appropriate safeguard would be the Standard Contractual Clauses (SCCs). The SCCs enable the transfer of personal data from the EEA to third countries that do not ensure adequate protection of personal data. However, organisations should consider the impact of the Schrems II decision.

Following Schrems II, the European Data Protection Board (EDPB) published recommendations on measures that supplement transfer tools to ensure compliance with the EU level of protection of personal data. The EDPB is an independent advisory body whose function is to ensure the consistent application of the GDPR in EU Member States and to promote cooperation between the European data protection authorities. In its Recommendations, the EDPB observes that controllers and processors that export personal data to third countries must, in collaboration with the data importer, ensure that personal data remains protected. They must verify, on a case-by-case, basis that the law or practice of the third country to which personal data is transferred, does not impinge on the effectiveness of the data transfer solution adopted. Where local law or practice does impinge on the effectiveness of such safeguards, supplementary measures may be adopted to bring the level of protection into line with EU standards. However, the Recommendations state that if EU data protection standards cannot be met, then personal data may not be transferred.

In the case of data transfers from the EEA to the United Kingdom, such analysis would have to take into account the effect of the Investigatory Powers Act. If the Act was found to impinge on the effectiveness of the SCCs, to the extent that no supplementary measures could ensure an EU level of data protection, then data transfers to the UK would be prohibited.

Applicable law

The UK retained the GDPR in domestic law, as supplemented by the Data Protection Act 2018 (as amended). The ‘UK GDPR’ includes the same key principles, obligations as the GDPR in Europe. However, though the UK is now free to amend the legislation. The Government is currently consulting on a National Data Strategy, which has been interpreted by some as an indication that that UK data protection law may be amended in the near future. If the UK GDPR were to significantly diverge from its European equivalent, this could potentially result in the termination of the bridging mechanism.

The UK GDPR applies to organisations that are established in the UK and to those that are established outside the UK, but which offer goods or services to, or monitor the behaviour of individuals taking place in the UK. Conversely, UK businesses that offer goods and services to citizens in the EU, or monitor the behaviour of citizens in the EU will be subject to the GDPR. The GDPR will also apply to ‘legacy data’ collected by UK organisations prior to the end of the transition period. Accordingly, UK businesses with a European client base are likely to find themselves subject to both the UK GDPR and the GDPR in the Member States where their clients are located. While the two regimes are aligned, this may not be problematic, however, prudent businesses will keep a keen eye on divergence.

Implications for business

UK businesses that already comply with the GDPR and does not have customers or contacts in the EEA are unlikely to be significantly affected by the changes. UK businesses that receive personal data from contacts in the EEA will need to keep a close eye on the changes and prepare for the possibility of the bridging mechanism ending without an adequacy finding being made. UK businesses with a presence or customers in the EEA will need to comply with both UK and EU data protection rules, and may need to appoint a representative. Businesses should also identify any personal data collected from individuals in EEA countries, prior to 1^st January 2021; in the absence of an adequacy decision, such ‘legacy data’ will remain subject to the GDPR as it applied in the EU on 31^st December. As far as an adequacy decision is concerned, prudent businesses should hope for the best and plan for the worst.

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About the Author

James Castro-Edwards is a solicitor and has specialised in data protection since 2006. James is a partner at City of London law firm Wedlake Bell LLP (https://wedlakebell.com/), where he leads the data protection team, as well as the firm’s outsourced data protection officer service, ProDPO (https://prodpo.com/).

What to Know When Migrating to America in the Future

March 20, 2021

The Land of the Free. The Land of Opportunity. These are but some of the names that are given to the United States and which draw in hundreds of thousands of people each year.

With approximately 13.7% of residents in the United States foreign-born nationals, there is no surprise that more people each year possess the desire to move there.

With that in mind, some things should be remembered when wanting to migrate to America, which we will be discussing a bit further below. Achieve your life-long dream and read on for more.

Documentation and Residency Permits

Naturally, this is something that is on the top of a lot of people’s lists when deciding to move to the country. Whether you are moving as an individual or planning to move with your entire family, some processes and protocols must be followed to do this.

Using the services of an immigration lawyer, provided by law firms like Farmer Law PC, ensures that you will be guided through the documentation process in as stress-free a way as possible.

Whether you are interested in obtaining an employment-based visa or something similar, law firms like this will be able to achieve this for you. You will be living in your desired location in no time.

Furthermore, using services like these can minimize the risk of you meeting any obstacles further down the line; not something you want when you have settled in your new home.

Healthcare Differences

While the healthcare on offer may well be some of the best in the world, it should be noted for those who are not already aware that there are stark differences between the healthcare system and that of other countries.

Mainly if you are moving from a country where you have free access to healthcare, this is not the case in the US. Ensuring that you have adequate health insurance for yourself and anyone who is moving with you will guarantee that you will be able to access services as and when you need them.

Paying Taxes

Much like other countries worldwide, you should expect to pay some sort of tax on your income. If you earn a significant wage, you should expect to pay more tax than someone who makes much less than you.

Furthermore, if you migrate from the UK to live in the United States, you will be familiar with being taxed on something that you purchase at the local supermarket. However, unlike the UK, the sales tax is added at the point of purchase, rather than while the item is still on the shelf.

This is something that should be remembered when moving to the country; you don’t want to find yourself a few cents short as you miscalculated how much something was going to cost!

We hope that this piece has provided insight into some of the things that should be remembered when moving to the United States. Go forth with confidence that your journey will run smoothly and thoroughly enjoy this new chapter of your life!

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Elon Musk Says Dogecoin Could Be the Future of Cryptocurrency

March 18, 2021

In a series of tweets since January, Tesla CEO Elon Musk has been promoting the Japanese Shiba Inu-themed digital currency, Dogecoin, as “people’s crypto.”

The richest man in the entire world has been steadily turning heads with his increasing interest in the cryptocurrency sector, particularly with dogecoin recently. Founded in 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin is an open-source peer-to-peer cryptocurrency that began as an inside joke shared among traders that, thanks to Elon Musk’s viral tweets, began its ascent into a genuine cryptocurrency player.

Dogecoin today remains the 13th most valuable cryptocurrency in the world, with a market cap nearing $8 billion as it is. It’s recent price surge has seen it rise in value from less than $0.01 as the year started to just over $0.08 and growing.

Much of its growing traction can be attributed to Tesla and SpaceX’s CEO constant tweets and memes, as well as tangible evidence of his support for the sector by investing $1.5 billion in cryptocurrency earlier this year. Elon Musk himself has said he will buy out major Dogecoin holders in order to help make the infamous virtual currency the “currency of the internet”.

Elon Musk recently overtook Amazon founder Jeff Bezos’ title of world’s richest person by claiming it himself, emboldening him with making jabs at so-called crypto whales who hoard large stockpiles of Dogecoin for their own benefit. These large “crypto whales”, he argues, are the only thing standing in the way of Dogecoin becoming a major, mainstream currency accessible to most.

“The most entertaining outcome is often the most likely,” he said during a recent Q&A session on the app Clubhouse. “Arguably the most entertaining outcome, and most ironic outcome, would be that Dogecoin becomes the currency of Earth in the future.” You can get Clubhouse followers from the websites like increditools.

The billionaire’s support for financial innovation has always been evident in his business choices, perhaps the billion dollar investment is another way for him to showcase just how much, along with hinting at the possibility of accepting Bitcoins as viable payment method for his company’s products.

Meme-fuelled tweets and off-hand comments aside, Elon Musk, known for catapulting disruptive ideas in both transportation and space tourism, is on the path to seriously wagering cryptocurrency as a legitimate, viable financial solution. He states two reasons for this: as a stable store of value for investors and as a reliable medium of exchange that can rival the dollar in everyday economic transactions.

Currently, given its only recent brush with fame and not as established structure as compared to bitcoin, Dogecoin still has a long way to go in terms of becoming a mainstream form of payment; but with the gravity of Elon Musk’s support towards it, it shouldn’t be long until we see the fruits of his labour come up with tangible results.

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Prepare for Real-World Experience: Eight Options To Pursue In Finance

March 18, 2021

The role of finance is vital when performing the growth and developmental activities of any economy. For the layman, finance involves acquiring and managing money. Finance has three subcategories- public finance, corporate finance, and personal finance. Each of these three subcategories requires a different mindset and skillset. However, the principles are the same for all three. So, a finance career involves understanding basic accounting principles and how to raise and manage capital efficiently.

Suppose you’re interested in bonds, stocks, financial markets, and other investment types, and you also love the numbers game. In that case, a finance career is worth considering. To do such a thing, you will require a bachelor’s degree and a basic understanding of financial management fundamentals. These include economics, mathematics, auditing, and accounting. Senior-level jobs require a master’s degree with a few years of working experience. Keeping this in mind, let us move on and look at some distinguished finance career options that you can apply for after graduating. Also, we will share each job’s responsibilities, required qualifications and skillsets, and salary prospects.

Financial Advisor

Financial advisors are responsible for discussing the long and short-term financial goals of a company with its owners. They help create personalized and manageable budgets and advise their clients on making sound financial investments and decisions. Additional duties include- assisting clients with their taxes, maintaining compliance, and ensuring that their business practices are legal and safe.

To work as a financial advisor, you will need a bachelor’s degree in finance, accounting, or business from an accredited institution. You might not need a master’s, but it will undoubtedly add value to your resume and increase your employment chances. A financial advisor’s national average salary is around 87,850 dollars per year. However, the upper ten percentile can earn about 96,000 dollars.

Accountant

An accountant typically has to keep track of incoming and outgoing funds for an organization. They consult with their clients regarding taxes and perform audits to ensure that they utilize their money effectively and legally. They also create financial reports and suggest improvements to a budget plan.

To work as an accountant, you will need a bachelor’s degree in either finance or accounting. After completing an undergrad degree, you will need to obtain a campus-based or an online masters in accounting or finance. You can also go for a doctoral-level accounting or finance degree if you want to increase your pay package. Talking about the pay package, accountants earn a national average salary of around 71,550 dollars per year. Though, the upper ten percentile can make 124,450 dollars annually.

Financial Analyst

A financial analyst’s duties include- assessing an organization’s spending plan, adjusting budgets, creating business plans, and much more. They also predict potential future losses and profits and review or update financial statements accordingly.

To work as a financial analyst, you will need a bachelor’s in accounting, business administration, finance, or any other related degree. Employers often prefer a master’s in the field if you want to apply for a more specialized role. A financial analyst’s national average salary is around 81,590 dollars per year, while the upper ten percentile makes 111,760 annually.

Insurance Agent

An insurance agent’s duties include developing personalized insurance policies, sharing quotations, performing risk analyses through quantitative research, answering their client’s finance or insurance-based questions, and much more. They also pitch new and improved insurance policies to their clients.

To work as an insurance agent, a high school diploma or a GED will be enough. You will also need a state-issued license, which involves passing a state licensing exam. Once obtained, you can expect to make anywhere between 50,940 dollars to 125,500 dollars per year.

Investment Manager

Investment managers, well, advise their clients on making sound financial investment decisions. They also offer advice for buying and selling stocks and bonds, meeting with other investment managers for negotiating agreements, underwriting securities, and much more. Additional duties include overseeing acquisitions and mergers, planning for future investments, and conducting market research.

To become an investment manager, you will require a bachelor’s degree in business administration, accounting, finance, or economics. Employers highly prefer individuals who hold a master’s degree in any field mentioned earlier, especially an MBA. An investment manager’s national average salary is around 68,370 dollars per year, while the higher ten percentile makes 208,000 dollars annually.

Business Teacher

Finance graduates have a skill set that includes presentation and communications skills vital for the teaching profession. Business teachers teach their students the fundamentals of accounting marketing, management, and investments. Finance graduates who have a curiosity for business issues and the business world, in general, will be well-suited for such a role.

To choose a business teacher’s career, you will require a bachelor’s in finance, accounting, or business administration. You then have to obtain a master’s, followed by a Ph.D. According to the BLS, a business teacher’s national average salary is around 83,920 dollars per year. However, the upper ten percentile earns approximately 196,980 dollars annually.

Investment Banker

An investment banker raises money for business entities. They work within financial firms or large banks. They help shape deals related to business expansion, mergers, acquisitions, or sales. It also includes buying or selling an organization’s shares or stocks. As such, it gets done to raise money to meet a company’s business objectives. The role of an investment banker is the same as the role of an investment manager. However, an investment banker usually works for a bank or a finance firm. At the same time, an investment manager can only work in a finance firm.

The minimum educational requirement is a bachelor’s degree in finance, accounting, or business administration to work as an investment banker. While it may be possible to move on to a senior role without a master’s degree, it would hurt your chances of promotion if you acquired one. An investment banker’s national average salary is around 90,000 dollars annually, with job growth of 4 percent till the year 2024.

Portfolio Manager

A portfolio manager’s responsibilities include making investment decisions for an organization’s or individual’s portfolio. They manage investment to achieve a clearly defined objective according to portfolio focus (such as growth, value, or cap), desired return goals, or risk levels. A portfolio manager can handle investments for groups of people, an entire organization, or even a single person.

You will require a bachelor’s degree in finance, economics, business administration, or accounting to become a portfolio manager. A master’s degree in one of these fields will also increase your chances of employment. A portfolio manager’s national average salary is around 129,000 dollars per year.

Conclusion

It will be a wise decision to develop a career plan before you decide to opt for any finance degree or certification. Depending on your experience and educational background, a finance career can help you hone particular skills to help you build a more remarkable and more successful finance career in the years to come. So, go ahead and choose from the finance-based job options mentioned above and choose one that suits you the best.

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